Fundamental

Technical

Futures

Central Banks

Forex Brokers

Trading Tools

More Tools

 

USD/CHF Changes Trend to Up

By:   James Hyerczyk
  • 03-07-2008
0
votes
 
View Comments (0)
Previous Analysis | Next Analysis
Text Size
Print
Email
Add a Comment
Analysis

Overnight the USD/CHF could not attract any sellers after the move through the major 50% price at 1.0130.

The market picked up strength after regaining 1.0130 and turned the main trend up on a trade through 1.0232.

The first resistance area is a downtrending angle at 1.0255 1.0261.  There may be some selling following the first test of this resistance zone.

If this market can sustain intraday closes over this level, then the next move is likely to take the market on a full retracement to 1.0335 - 1.0384.

Price

1.0401      Gann Angle Down
1.0384      .618 Retracement
1.0335      50% Retracement
1.0261      Gann Angle Down
1.0255      Gann Angle Down

1.0150     New York Close

1.0130      50% Retracement
1.0025      Gann Angle Up
1.0013      .618 Retracement

Share:
Digg
Del.icio.us
Next Analysis: USD/JPY Still Having Trouble at 106.92 to 107.10
Content Provided by:
James Hyerczyk

James A. Hyerczyk is a registered Commodity Trading Advisor with the National Futures Association.

Mr. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor.


DISCLAIMER:
Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or economic conditions that may substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. Prices in the underlying cash or physical markets do not necessarily move in tandem with futures and options prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds and such may work against you as well as for you. In no event should the content of this correspondence be construed as an express or implied promise or guarantee from James A. Hyerczyk and J.A.H. Research and Trading or its subsidiaries and/or affiliates that you will profit or that losses can or will be limited in any manner whatsoever. Loss-limiting strategies such as stop loss orders may not be effective because market conditions may make it impossible to execute such orders. Likewise, strategies using combinations of positions such as "spread" or "straddle" trades may be just as risky as simple long and short positions. Past results are no indication of future performance. Information contained in this correspondence is intended for informational purposes only and was obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.


Comments
Add a Comment
Please Login to Post a Comment
User Email:
Password:
  Remember Me Register For Free
  Forgot Password | Help
Become a member and get 6 free Forex courses by OTA!

 
  • Webinar
 
  • Charts
 

 
  • Survey

What is your favorite platform?

ICTS
Meta Trader
Ninja Trader
Trade Station
Other

 
ForexPros.com Newsletter
 

 
 

Special Offers: